Fintech company Goldmoney Inc. (TSX: In additionXAU) announced this week it is collaborating with the Royal Canadian Mint. Users of Goldmoney’s platform may now add their Royal Canadian Mint balance to a Mastercard Prepaid card provided by Goldmoney or bank account in local currency.
According to Goldmoney, Personal and Business users can now instantly purchase any amount of 100% reserved physical gold in the Mint’s Ottawa vault using Goldmoney’s proprietary, closed-loop blockchain technology, for a 0.50% fee and receive free storage for up to 1,000 grams through Also, the Goldmoney Network provides users with a second Canadian storage option, after Toronto.
The company also noted that network users can also send gold title to anyone for free through text message or email or make vault-to-vault gold transfers between the Mint and seven Brink’s vault locations located around the world via Goldmoney’s web-based Dashboard and mobile app for iOS and Android.
Sharing more details about the collaboration, Darrell MacMullin, CEO of Goldmoney Network, stated:
“As a leading fintech company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities. We’re proud to add the Royal Canadian Mint to the Goldmoney Network, thereby converting Mint-vaulted gold bullion into an innovative modern-day money stock while expanding our storage and physical delivery offerings.”
Josh Crumb, founder and chief strategy officer of Goldmoney, noted:
“Through collaborations of this kind, we’re creating innovate ways to match supply and demand of precious metals while further expanding the utility and capabilities of the Goldmoney Network. We look forward to working together with the Mint to explore educational co-marketing activities that aim to boost awareness and accessibility of precious metals.”
John Moore, vice-president of sales at the Royal Canadian Mint, added:
“We’re excited to join the Goldmoney Network and offer Goldmoney and its Network users highly-secure storage services at our vaults in Ottawa. We also look forward to work with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious metal industry.”